Customs changes on Budget 2021 are as follows; 2021 Budget Import Cess Letter 2021 Budget Import Cess Annexure Order under Section 14 of Sri Lanka Export Development Act No. 40 of 1979 Revenue Protection Order No.08.2020 published under Revenue Protection Act No. 19 of 1962 Special Commodity Levy Act No. 48 of 2007
Tax publication on new Inland Revenue Act – EY The Inland Revenue Bill published by Gazette on 19 June 2017 along with amendments made at the Committee stage was passed by Parliament on 7 September 2017 and will become an Act of Parliament once it receives the certification of the Hon. Speaker. The new Act provide…
The Bill to amend the VAT Act was published on August 11, 2023, and the EY Tax Alert dated September 11, 2023, highlighted the proposed changes based on this Bill. Subsequently, during its passage through Parliament, a few significant changes were made, and the Bill was finally passed in Parliament on December 11, 2023, with…
Taking into account the prevailing situation in the country, the Inland Revenue Department has made arrangements to request the Tax Residency Certificates (TRC) via e-Mails. Download IRD Notice No. PN/TC/2020-05 | Dated: 08 Oct 2020
1. Income Tax (Amendments to the Inland Revenue Act, No. 24 of 2017 1.1 Tax Payable by Withholding (a) A special tax return requirement will be introduced for the deduction of 2.5% withholding tax levied on the sale price of any gem sold at an auction conducted by the National Gems and Jewellery Authority. Exemption…
Download – Public ruling on year change approval – PR/IT/2019/01 (10/05/2019) Taxpayers who have already obtained the approval from Commissioner General to prepare their accounts for a period other than the year of assessment, in order to ascertain income tax payable. For the taxpayers who are willing to apply provisions of both former IR Act…
Department of Inland Revenue has published a list of VAT Registration deactivated persons (w.e.f. 20.01.2021). Download: List of VAT Registration deactivated persons
Department of Inland Revenue has published a notice on Filing of Country by Country Report (CbCR) of the MNE Group. Download IRD Notice | PN/TP/2020-03 | Dated: 22.12.2020
Department of Inland Revenue has published Pay As You Earn (PAYE) Tax Calculator for Year of Assessment 2018/2019 which can be used for PAYE tax annual declaration purpose. Download PAYE Tax Calculator_1819_V1_E.
Due to the prevailing situation of the country affected by the Covid-19 pandemic, the Inland Revenue Department is not in a position to issue Tax Clearance Certificates to the persons who make outward remittances. All Commercial Banks, Authorized Dealers engaged in outward remittances and the persons who make the outward remittances are hereby informed that the Notice issued…
Tax payments & Returns due dates and tax types & payment period codes for the month of February 2021 are as follows: FEBRUARY 15TH Corporate Income Tax (CIT) 3rd Instalment for the Y/A 2020/2021 is due on February 15, 2021. Tax Type: 02 Period Code: 20213 Individual Income Tax (IIT) 3rd Instalment for the Y/A 2020/2021 is…
Withholding Tax (WHT)/ Advance Income Tax (AIT) Return and Schedules w.e.f. 01 April 2020 (Y/A 2019/2020) Return Annual Statement of Withholding Tax / Advance Income Tax Guidelines Guidelines to Fill the Statement of Withholding Tax Schedules PDF – Schedules to Withholding Tax Return/ Advance Income Tax Excel – Schedule 1 – Withholding Tax/ Advance Income…
Department of Inland Revenue has published Certificate of Income Tax Deductions prescribed under Section 87 of the Inland Revenue Act, No. 24 of 2017. Certificate of Income Tax Deductions - Primary Employment – (PAYE/T10(new)) Certificate of Income Tax Deductions - Secondary Employment – (PAYE/T10(new)/D)
Betting and Gaming Levy (Amendment) Bill – The proposal made by the Minister of Finance to publish the draft (Amendment) Bill for the amendment of the Betting and Gaming Levy Act, No.40 of 1988 prepared by the Legal Draftsman in the Government Gazette for increasing the Annual Levy from Rs.200 million to Rs.400 million, for…